NEW ORLEANS -
Federal authorities have arrested 26-year-old Matthew Pizzolato of Tickfaw and charged him with operating a $20 million dollar Ponzi scheme.
According to federal investigators, Pizzolato targeted elderly victims by promising they'd receive higher than normal rates of return for investing in CDs or U.S. Treasury Bills through him and his 20 different companies. There are at least 160 victims in the scheme, primarily on the North Shore and Baton Rouge areas, but also stretching across southern Louisiana. Pizzolato maintained offices in Hammond, Covington, Lake Charles, Baton Rouge, and also conducted business in the New Orleans metropolitan area.
Pizzolato will go before a federal judge on Monday for a bond hearing. His charges include:
52 counts of mail fraud,
2 counts of wire fraud,
7 counts of money laundering,
1 count of securities fraud,
1 count of witness tampering,
1 count of obstruction of justice.
According to Friday's indictment, since 2005, Pizzolato has been affiliated with the following companies:
Gulf Region Guaranty, Inc. (Gulf Region Guaranty) and its affiliated companies Acadian Guaranty Group, LLC;
Allegiance Financial, LLC; Annuity Presets, LLC;
Annuity Recovery Services, LLC;
Anova Marketing Systems, LLC;
Anova Marketing Systems, LLC;
Anytime Fitness of Sulphur, LLC;
Cornerstone Wealth Management, LLC;
Global Assured Financial, Inc.;
Green Pelican Group, Inc.;
Gulf South Guaranty, Inc.;
Gulf States Guaranty, LLC;
GRG Holdings, LLC;
GRG I, LLC;
GRG II, LLC;
Matt P, LLC;
National Insurance Advisors, LLC;
Pelican Guaranty Group, Inc. (Pelican Guaranty);
Spectrum Lending Group, LLC.
www.ofi.louisiana.gov
This is the web address for financial institution. You can contact them for advice on investments.
According to federal investigators, Pizzolato targeted elderly victims by promising they'd receive higher than normal rates of return for investing in CDs or U.S. Treasury Bills through him and his 20 different companies. There are at least 160 victims in the scheme, primarily on the North Shore and Baton Rouge areas, but also stretching across southern Louisiana. Pizzolato maintained offices in Hammond, Covington, Lake Charles, Baton Rouge, and also conducted business in the New Orleans metropolitan area.
Pizzolato will go before a federal judge on Monday for a bond hearing. His charges include:
52 counts of mail fraud,
2 counts of wire fraud,
7 counts of money laundering,
1 count of securities fraud,
1 count of witness tampering,
1 count of obstruction of justice.
According to Friday's indictment, since 2005, Pizzolato has been affiliated with the following companies:
Gulf Region Guaranty, Inc. (Gulf Region Guaranty) and its affiliated companies Acadian Guaranty Group, LLC;
Allegiance Financial, LLC; Annuity Presets, LLC;
Annuity Recovery Services, LLC;
Anova Marketing Systems, LLC;
Anova Marketing Systems, LLC;
Anytime Fitness of Sulphur, LLC;
Cornerstone Wealth Management, LLC;
Global Assured Financial, Inc.;
Green Pelican Group, Inc.;
Gulf South Guaranty, Inc.;
Gulf States Guaranty, LLC;
GRG Holdings, LLC;
GRG I, LLC;
GRG II, LLC;
Matt P, LLC;
National Insurance Advisors, LLC;
Pelican Guaranty Group, Inc. (Pelican Guaranty);
Spectrum Lending Group, LLC.
www.ofi.louisiana.gov
This is the web address for financial institution. You can contact them for advice on investments.
